Hannover House has released the first official trailer for Joel Schumacher‘s Twelve, which no one seemed to like when it premiered as the Closing Night Film in the 2010 Sundance Film Festival (Watch my video review here).

From a filmmaker who has given us such diverse films as The Lost Boys, The Phantom of the Opera, Flatliners, A Time To Kill, Batman Forever, Phone Booth and 8mm comes a new drama chronicling of the highs and lows of privileged kids on Manhattan’s Upper East Side, in a tale that involves sex, drugs and murder.Basically it seems like Schumacher was flipping throught the television stations and saw Gossip Girl and said “I want to make that movie…” Problem is, his version of Gossip Girl isn’t nearly as entertaining as Gossip Girl.

Written by Jordan Melamed (the director of 2001’s Maniac), the story follows a young drug dealer who watches as his high-rolling life is dismantled in the wake of his cousin’s murder, which sees his best friend arrested for the crime. The film stars Chace Crawford, Emma Roberts, Kiefer Sutherland, 50 Cent, and Zoë Kravitz.

Watch the trailer after the jump. Please leave your thoughts in the comments below.

Here’s the synopsis of Twelve:

Based on the critically acclaimed novel by Nick McDonell, written when he was only 17 years old, Twelve is a chilling chronicle of privileged urban adolescence on the Upper East Side of Manhattan. Set over spring break, the story follows White Mike, a kid with unlimited potential, who has dropped out of his senior year of high school and sells marijuana to his rich, spoiled peers. When his cousin is brutally murdered in an east Harlem project, and his best friend is arrested for the crime, White Mike is hurled on a collision course with his own destiny.

Led by director Joel Schumacher, a talented ensemble cast perfectly captures the obvious pain of children teetering on the brink of adulthood. Schumacher counters their overindulged behavior with operatic staging and a literary voice-over. For every decade, there are moments when youth culture is frozen in “art,” to be reveled in by the generation that lived it and observed by those that didn’t. That is Twelve.